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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Monday, September 17, 2007

Vegas strip still holds its own

Apparently the "what happens in Vegas, stays in Vegas" ad campaign was a success. Despite increased competition from Native American casinos and overseas, gaming revenue for July of 07 increased by 10.3% compared to July of 2006. Overall, there was a 4.6% increase fiscally from 2006, according to the figures released by the Nevada State Gaming Control Board.

As a result, Clark County had a 13% increase in revenue compared to last year. For residents and potential residents, that's great news. With tourism increasing every year, more and more resorts are being built to accommodate them. As a result, construction is still going strong on and around the strip, employing thousands of people, not to mention the jobs created after the projects are completed.

The revitalization of downtown Las Vegas is also showing the fruits of its labor. According to the Gaming Control board, July of 2007 showed the highest gaming revenues for downtown since 2004. Some of the downtown loft projects have been completed which should also help spur gaming and entertainment revenue as well. Newport lofts should have residents moving in shortly.

With the addition of the Echelon (located on the former Stardust site), I'm sure that there will be more significant increases in revenue. Not to mention the several other mega resorts under construction. It just goes to show you that even with increased competition all over the United States and overseas, nothing beats the Las Vegas experience.

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3 Comments:

At 8:14 AM, Anonymous justine said...

Newport lofts look really amazing comparing to the European ones!

I guess that apartments cost a lot..

 
At 9:52 AM, Anonymous Toby Barnett said...

Are these built green condos? I heard Vegas has been building more green style condos lately.

 
At 2:40 PM, Blogger Jade456 said...

They aren't LEED certified by they use a lot of Energy star rated materials, windows, duct work, etc.

 

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